Debt and Your Health

Posted on August 22, 2008
Filed Under Finance |

It should come as no surprise…

Comments

3 Responses to “Debt and Your Health”

  1. Casey Hater on August 23rd, 2008 2:04 pm

    But, wait! Don’t all the gurus out there claim some debt is good?

  2. mike_mn on August 23rd, 2008 7:07 pm

    ummm…no, not all gurus preach that some debt is good. In fact, some gurus preach that any debt is the anti-christ. Maybe you just need to get out more.

  3. Tim on August 24th, 2008 12:22 pm

    @Casey Hater:

    The bogus ones do.

    Here is the thing about debt. It is the least preferable way to buy anything. Consumer debt is the absolute worst thing dragging on our economy now. Consumers carry way too much debt. They don’t think long term, they think how much will it cost me this month. If they thought long term, no sane person would agree to a less than interest only loan or one where the rate triples in a few years.

    However, even though it is the least preferable way to buy anything, in some instances it is preferable to not buying at all. For example, real estate investment. A properly structured debt strategy in that case not only makes it possible, it makes it profitable.

    So, while all debt is bad, some debt is worse than others.

    And poorly structured and planned debt can kill you financially and physically.

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